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Dec 26, 2012
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the republican lawmakers are likely hoping that means he is rested and ready make a deal on the fiscal cliff. however, chief white house correspondent ed henry tells us that washington may have to set with a backup plan to the backup plan. >> christmas tradition for president obama. he and first lady michelle obama saying thanks at the marine corps base hawaii. >> so many of you make sacrifices day in and day out on behalf of the freedom and behalf of the security. >> now the president is giving up some vacation time rushing back to washington aboard air force one late tonight to deal with the looming fiscal cliff. after that red eye, the president will no doubt need coffee. starbucks decided to get political in the washington, d.c., shops, by having employees write come together on cups. ceo howard schultz writing in open letter, "my hope is the simple message will serve as holiday reminder from starbuck of the spirit that bridgeed differences and we have the power to come together and make a difference in every season of the year." the president and speaker john boehner have not spok
the republican lawmakers are likely hoping that means he is rested and ready make a deal on the fiscal cliff. however, chief white house correspondent ed henry tells us that washington may have to set with a backup plan to the backup plan. >> christmas tradition for president obama. he and first lady michelle obama saying thanks at the marine corps base hawaii. >> so many of you make sacrifices day in and day out on behalf of the freedom and behalf of the security. >> now the...
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Dec 26, 2012
12/12
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fiscal cliff gets closer. congress now has six days left to make a deal. >> aloha, hawaii. >> to my republican colleagues, the ronald reagan model is if you get 80% of what you want, that's a pretty good day. >> they were this close. they were this close to a solution. >> he's going to get tax rate hikes. >> are we going over the cliff? >> i believe we are. >> be republican and be conservative and pass a bill that cuts tax. >> boehner has no control over his extreme right wing faction. >> should anybody's taxes be raised at this point? answer yes or no. >> no. no. ♪ >> we begin as president obama and the senate head back to washington set for one last effort to avert the first fiscal cliff. aloha means good-bye for the president as he packs bound for the white house tonight. the president cutting short his vacation leaving michelle and the girls behind as he gets back to work to try to prevent tax increases and spending cuts due to begin next week. there's just one problem. it appears there would be no house
fiscal cliff gets closer. congress now has six days left to make a deal. >> aloha, hawaii. >> to my republican colleagues, the ronald reagan model is if you get 80% of what you want, that's a pretty good day. >> they were this close. they were this close to a solution. >> he's going to get tax rate hikes. >> are we going over the cliff? >> i believe we are. >> be republican and be conservative and pass a bill that cuts tax. >> boehner has no...
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Dec 26, 2012
12/12
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where and when we could see trouble. >>> they left down without a deal on the fiscal cliff. when republicans and democrats get back to d.c. tomorrow, will they be able to compromise? we'll talk to nan hayworth, coming up. list of almost two thousand corporate partners - companies like microsoft, american red cross and adobe - to create options for you. not only that, we're using what we learn from these partners to shape our curriculum, so that when you find the job you want you'll be a perfect fit. let's get to work. i'm going to dream about that steak. i'm going to dream about that tiramisu. what a night, huh? but, um, can the test drive be over now? head back to the dealership? [ male announcer ] it's practically yours. but we still need your signature. volkswagen sign then drive is back. and it's never been easier to get a passat. that's the power of german engineering. get $0 down, $0 due at signing, $0 deposit, and $0 first month's payment on any new volkswagen. visit vwdealer.com today. i need you. i feel so alone. but you're not alone. i knew you'd come. like i could
where and when we could see trouble. >>> they left down without a deal on the fiscal cliff. when republicans and democrats get back to d.c. tomorrow, will they be able to compromise? we'll talk to nan hayworth, coming up. list of almost two thousand corporate partners - companies like microsoft, american red cross and adobe - to create options for you. not only that, we're using what we learn from these partners to shape our curriculum, so that when you find the job you want you'll be...
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Dec 26, 2012
12/12
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economists say we could go into another recession if the fiscal cliff is not dealt with. we just learned house republicans convened a conference call with members to say be on 48 hours notice to come back to washington in the next few days to deal with this one way or another. the senate coming back into session tomorrow morning 10:00 a.m. eastern time. the president on this red eye will be flying basically overnight tonight into tomorrow, get there early in the day and maybe convene congressional leaders at some point. interesting that starbucks, the coffee company, is running a row motion in d.c. stores where the they're writing come together on the coffee cup. right now, they're a bit far apart. >> i heard you talk about that 78-degree cold front that swept through the islands. before he headed out, how did the president celebrate christmas? >> yeah, it's been rough. you're right. 78 degrees is probably better than where you are right now, but the bottom line is that hawaii is always beautiful this time and the president started a tradition when he comes out here for c
economists say we could go into another recession if the fiscal cliff is not dealt with. we just learned house republicans convened a conference call with members to say be on 48 hours notice to come back to washington in the next few days to deal with this one way or another. the senate coming back into session tomorrow morning 10:00 a.m. eastern time. the president on this red eye will be flying basically overnight tonight into tomorrow, get there early in the day and maybe convene...
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Dec 26, 2012
12/12
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we'll talk about the fiscal cliff ad knaus see yum. that's what we do when you're talking about the economy. appreciate you both being here. it is the fiscal cliff gridlock which is helping to suck the holiday cheer out of many shoppers. a new report says u.s. holiday sales climbed just .7 of a percent over last year. that is their slowest rate of growth since 2008 when the recession was in full force but are people just temporarily stuffing their money in the mattress due to the fiscal cliff? or is this the start of a long-term spending halt by consumers? joining us to discuss all of this is retail analyst. we appreciate you being here. we were reporting about this today on the fox business network. one i think it was mastercard spending pulse saying it actually not the fiscal cliff, it was superstorm sandy. >> right. adam: at the end. day are consumers pulling back? doesn't matter if it was the storm or fear they're pulling back, right. >> that was a real good point you made. mastercard said this these numbers were becoming a concern
we'll talk about the fiscal cliff ad knaus see yum. that's what we do when you're talking about the economy. appreciate you both being here. it is the fiscal cliff gridlock which is helping to suck the holiday cheer out of many shoppers. a new report says u.s. holiday sales climbed just .7 of a percent over last year. that is their slowest rate of growth since 2008 when the recession was in full force but are people just temporarily stuffing their money in the mattress due to the fiscal cliff?...
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Dec 26, 2012
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about the fiscal cliff and the markets out there again could be very, very harsh if there is no deal. so i don't know about christmas cheer but i think there are certain political realities that say there's got to be something done, even if it's a temporary patch that allows them to say we're going to have the big vote in terms of the cuts and tax hikes and reform, you know, in a few weeks. but they have got to do something in the short term or they're going to be dire consequences. i don't think that is any hyperbole, kelly, it is just the truth. kelly: just the truth. bottom line so i let you go, what is your next guess, deal or no deal? >> i think they get some kind of deal. it may pass the january 1st, december 31st deadline to get the house vote but i think you will see something done. kelly: maybe a pared down version but something will get done. kelly, have a happy holiday. >> you too, juan. jamie: the taliban is claiming responsibility for a homicide car bombing in khost. it is at the very same base where seven cia employees were killed three years ago by a jordanian homicide
about the fiscal cliff and the markets out there again could be very, very harsh if there is no deal. so i don't know about christmas cheer but i think there are certain political realities that say there's got to be something done, even if it's a temporary patch that allows them to say we're going to have the big vote in terms of the cuts and tax hikes and reform, you know, in a few weeks. but they have got to do something in the short term or they're going to be dire consequences. i don't...
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Dec 26, 2012
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: right. >> -- if this whole fiscal cliff disaster happens. patti ann: now how was it spun this way? there's a lot more being negotiated than just those tax rates for wealthy people. what about the fact that we have the $16 trillion debt, and these plans hardly do anything to address it? why is that not the focus? >> yeah, they do almost nothing to address it. even if the president got what he wanted in taxes which is raising taxes on americans who make above $250,000 a year, i think it would be about $850 billion over the next ten years, it wouldn't even be one year's deficit. so there, i mean, there are a lot of other things involved. republicans have demanded real spending cuts, mostly spending cuts in the entitlement programs. and what we've seen in the past few weeks is as that has been discussed among democrats, there's been a hardening of opinion that they really do not want to make any cuts or any trims really in any of the big entitlement programs, medicare, medicaid and social security. patti ann: all right. well, byron york, that's
: right. >> -- if this whole fiscal cliff disaster happens. patti ann: now how was it spun this way? there's a lot more being negotiated than just those tax rates for wealthy people. what about the fact that we have the $16 trillion debt, and these plans hardly do anything to address it? why is that not the focus? >> yeah, they do almost nothing to address it. even if the president got what he wanted in taxes which is raising taxes on americans who make above $250,000 a year, i...
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Dec 26, 2012
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the bush tax cuts sunset if we don't do anything to variety the fiscal cliff. this is something that the president and republicans agree on. they agree 98% of the americans shouldn't have taxes raised, but that 2% disagreement brings us to the edge of the fiscal cliff. >> the ceo of starbucks says, hey, you know what? let's write on our coffee cups "come together." do you think anybody will pay attention to that in washdz? >> you know what? anything and everything helps. just merely spreading the message america is watching and waiting for congress to act to find a way to reason together, that's an important act, and everyone doing their part can do, i say good on him. we need to send this message to washington and make sure it isn't settled. we'll go deeper into this tonight at 7:00 as well. this is urnlggent. the clock is ticking, suzanne. >>> many american families have adopted children from russia, but that might actually be ending thanks tie controversial bill passed in russia parliament. because your daughty wants that pink castle thing. and you really do
the bush tax cuts sunset if we don't do anything to variety the fiscal cliff. this is something that the president and republicans agree on. they agree 98% of the americans shouldn't have taxes raised, but that 2% disagreement brings us to the edge of the fiscal cliff. >> the ceo of starbucks says, hey, you know what? let's write on our coffee cups "come together." do you think anybody will pay attention to that in washdz? >> you know what? anything and everything helps....
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Dec 26, 2012
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saying that they think it's better to go over the fiscal cliff rather than go ahead and delay the tax increases and more importantly the spending cuts. the other thing you get out of that is if you allow the tax increases to go into effect a lot of those republicans think they have a better shot at tax reform next year when you instantly have a broader tax base. the numbers are sort of come complex. when the bush tax cuts went into effect fewer people had an income tax liability. this is what mitt romney was talking about last year with the 47%. if the tax rates increase you all of a sudden have more people paying income taxes and you just have a broader, higher rate to play with. next year when they come back they can get rid of some of the duck -ts and what not and lower the rates and overall have a lot more money in the system to play with, a lot more options. they think they are better shape for tax reform if they come back next year with the rates having gone up. >> reporter: and by not allowing the president to just add nah see um raise the debt level, they have leverage, don't
saying that they think it's better to go over the fiscal cliff rather than go ahead and delay the tax increases and more importantly the spending cuts. the other thing you get out of that is if you allow the tax increases to go into effect a lot of those republicans think they have a better shot at tax reform next year when you instantly have a broader tax base. the numbers are sort of come complex. when the bush tax cuts went into effect fewer people had an income tax liability. this is what...
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Dec 26, 2012
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cliff. >> six days away. dana, what would majority leader reid have to add to the legislation to peel off just a few republicans, enough to get it through the house? i don't know if he would get widespread support from mitch mcconnell and the leadership, but just a few who are maybe retiring, or leaving the senate. >> reporter: that's a great question. first and foremost they would have to be able to swallow the idea that they will effectively vote to raise taxes on the top 2% of americans which most republicans said they do not want to do because they think it is bad for the economy. to answer your question, it is probably the biggest sweetener for republicans and seen some moderate democrats by the way is the estate tax. the estate tax is in place right now at a relatively low threshold. it would go up big time at the end of the year. and that is something that is very important to a lot of republicans. that could be a sweetener. i think probably the best argument the democrats have for some of those republ
cliff. >> six days away. dana, what would majority leader reid have to add to the legislation to peel off just a few republicans, enough to get it through the house? i don't know if he would get widespread support from mitch mcconnell and the leadership, but just a few who are maybe retiring, or leaving the senate. >> reporter: that's a great question. first and foremost they would have to be able to swallow the idea that they will effectively vote to raise taxes on the top 2% of...